Stretching the Startup Cash

"I love this thing-Lean Startups.. they all start off with no money...They are trying to stretch any cash they have or figure out how to go along without any cash." (2:28)

"The fact that you have equity to give away in a startup that has potential means you have something that is tradable instead of cash. Using equity is a great means of stretching what little cash your have or to work in lieu of cash...you can't give it a way like candy...if you were to invest your time as a contractor, as somebody doing some kind service work, and you didn't get paid cash where you could have been paid cash by someone wouldn't it be great to get some upside to the company" (3:04)

"when you get down into the weeds and trying to figure out who is using your product, why they are using your product and adoption that becomes now a much more detailed exercise sometimes it requires doing some kind of consumer analysis by interviews...your analysis has to be more than just the theoretical number of people who can use your product" (17:35)